A key measure of inflation, the Retail Prices Index, could be about to change, resulting in lower annual returns on some pensions and investments. Up to half of the food produced in the world is being wasted and fussy consumers are partly to blame, according to a report. And also on the programme, what makes a good banknote, as the 5 Euro note gets a Greek goddess on it.

Business news with Simon Jack on news that the way we measure inflation could be about to change, with potentially huge implications, plus the reported success of Rolls Royce.

0626 Sports news with Garry Richardson.

0709 The Office of National Statistics (ONS) have said that they will not change the way that it calculates the retail price index - one of the measures of inflation. The BBC economics editor Stephanie Flanders outlines why the ONS made no change.

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0713

The government claims it has got a grip on what it spends and how when it comes to Ministry of Defence procurement. Tim Banfield, director of the National Audit Office, explains the findings of a report that outlines how well the government are doing.

0716 Business news with Simon Jack.

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0719

Roger Harrabin, the BBC's environmental analyst, reports on a nascent new wave of anti road-building protests inspired by, and using some of the tactics of, the 90s road protesters.

0727 Sports news with Garry Richardson.

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0732

As much as half of all the food produced in the world is wasted according to the Institution of Mechanical Engineers. Dr Tim Fox, the institution's head of energy and environment, explains that every year countries produce 4bn tonnes of food of which 1.2 to 2bn tonnes never gets eaten.

0736 The paper review.

0739 The Dawn chorus has begun - its extremely early, and its all down to the weather. But the cold snap ahead could make it a grim start to the year for all those tweeting birds? Grahame Madge, the RSPB's spokesperson, explains that it is too early in the year to hear some of the birds that traditionally take part in the chorus as they are still in Africa.

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0743

People in Chester Le Street (just outside of Durham) have voted in a referendum to take a down a public piece of art which has fallen into disrepair. Jo Fairfax, the artist behind the work, says that he is devastated by the decision as the sculpture was six years in the planning.

0746 Thought for the Day with the Reverend Lucy Winkett, rector of St James Piccadilly.

0751 Would-be councillors are being deterred from standing for election by low allowances, which existing members are reluctant to increase for fear of public criticism, MPs warned today. Conservative Party chairman Grant Shapps, and the chair of the Communities and Local Government Select Committee, the Labour MP Clive Betts, debate whether Independent local bodies should be given responsibility for setting allowances to ensure that councillors are paid "an appropriate level of compensation", as the committee suggests.

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0810

Philip Gordon, the US assistant secretary responsible for European affairs, has said that Britain's membership of the EU was "in the American interest". The Conservative backbencher Dominic Raab, and Douglas Alexander, Shadow Foreign Secretary, examine America's interest in the UK remaining within the EU.

0816 The Office for National Statistics have announced no overhaul of how inflation is measured. Chris Giles, economics editor of the Financial Times, and Ross Altmann, an independent pensions adviser and former government adviser, examine the consequences of the announcements made by Jil Matheson, the head of the Office of National Statistics.

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0822

Today Nick Clegg begins the first of his weekly radio phone in programmes on the London station LBC. The deputy prime minister has agreed to be grilled by members of the public to try and boost his popularity as he currently has the lowest approval ratings of all three party leaders. Simon Hoggart, the Guardian's political sketch writer, and Edwina Currie, former conservative MP, examine the stunt and ask whether it could backfire.

0825 Sports news with Garry Richardson.

0830 Major defence projects are being hit by delays and overspend despite government promises to control costs, the National Audit Office has warned. Defence Secretary Philip Hammond gives his view on whether costs have been higher than expected.

0835 More than a dozen people have now been arrested in protests against a new road being built in Sussex between Hastings and Bexhill-on-Sea. Dr Adam Marshall, director of policy at the British Chambers of Commerce, and Stephen Joseph, chief executive of the Campaign for Better Transport, debate whether we should we be building more roads.

0845 Business news with Simon Jack.

0848 A report from the Academies Commission, set up by the RSA and the Pearson Think Tank, has called for a greater focus on improving standards of teaching, greater collaboration between schools and greater transparency in terms of admissions and appeals procedures and the performance of academy sponsors. Christine Gilbert, former head of Ofsted and author of the report, and Bill Watkin, operational director for academies at SSAT - an independent, international, not-for-profit, membership organisation that works with schools and academies, discuss potential improvements to the academies system.

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0852

The ECB will today unveil a new design for the five euro note. It's the first re-design of the banknotes since they first entered circulation 11 years ago. The new note will feature an image of the Greek goddess Europa taken from the Louvre. Sophie Grove of Monocle magazine, Sir Christopher Frayling, former chairman of the design advisory committee at the Royal Mint, discuss what makes a good bank note.

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